Explain Why Special Purpose Frameworks (Also Known as Other Comprehensive

question 13

Essay

Explain why special purpose frameworks (also known as other comprehensive bases of accounting) may be used by a state or local government instead of GASB standards, which are generally accepted accounting principles (GAAP).

---

Definitions:

Welfare Rolls

A term referring to the list or number of individuals receiving welfare benefits provided by the government.

1994

A year notable for various global events, including the signing of the North American Free Trade Agreement (NAFTA) and the establishment of the World Trade Organization (WTO).

Poverty Line

The lowest amount of money required to maintain a sufficient quality of life within a specific country.

Per Hour

A unit of measurement representing the number of occurrences or actions within one hour.